Question: Ten weeks of data on the Commodity Futures Index are:
7.35 7.40 7.55 7.56 7.60 7.52 7.52 7.70 7.62 7.55
a. Construct a time series plot. What type of pattern exists in the data?
b. Use trial and error to find a value of the exponential smoothing coefficient a that results in a relatively small MSE.